What does J. C. Penney stand for? What's their unique position in the marketplace?

In 2011, J.C. Penney did business at
least once with over 50% of the families in America. They have enjoyed a 111
year old tradition of being a trusted destination for high quality goods at
prices affordable for the American hardworking family. A friendly smile and the
golden rule approach to taking care of customers have served for generations all
under one flag, J.C. Penney.

While the business climate today is very
different and more competitive than it's ever been, the values and principles
of J.C. Penney business have not changed. Their business is built around having
strong private brand merchandize, high quality, and relevant style at compelling
prices.

Brands like Arizona, Worthington,
Stafford, St. John's Bay and Xersion have been the core of J.C. Penney's
assortments and a reason for frequent business to stores and online. Many
customers believe these proprietary and exclusive brands are actually national
brands. J.C. Penney has most desired national brand partners and compete
head-to-head for the best assortments and presentations. Their most prominent
partners include Levi's, Nike, Van Heusen, Carter's, Vanity Fair, Dockers and
many others.

With Sephora, the world's leading beauty
destination now in 446 of our stores, Liz Claiborne, the most popular women's
apparel brand, Liz Claiborne in men's, Mango , the only fast fashion brand in
the U.S. department store, Modern Bride in jewelry, Royal Velvet in home, Joe
Fresh , Jonathan Adler and many more, there is always something to discover.

Myron E. (Mike) Ullman, III also added, ‘Thousands
of customers have told us they are excited that J.C. Penney they love and
appreciate us back. They make it clear they want to see us as leader in our
community. It's with these things in mind that our team is enthusiastic about
having the unique opportunity to restore our Great American icon to its
rightful place’.

Second
half of 2013:

J.C. Penney is going to continue
to drive traffic conversion with occasion specific promotions and the right
merchandise. First, they are going to continue to improve their assortments with
better balance with private national brands and exclusive brands.

In kids, the Disney shops will open
inside J.C. Penny in early October. There will be visible product changes in
men's in the same period with important improvements in strong selling Dockers
and Hager brands. In addition to St. John's Bay, J.C. Penney is beginning to
see strength across several of their private brands including jcp.home, Cooks
and Ambrielle.

Second, J.C. Penney is working quickly
and forcefully to strengthen their marketing and messaging to restore customer
loyalty and excitement. This includes positioning J.C. Penny as a primary
destination for Black Friday and Cyber Monday and it's the same momentum
throughout the holidays. They are also bringing back tiered J. C. Penney
rewards program in order to build customer loyalty and regain the traction that
had lost when the company discontinued these successful sales drivers.

J.C. Penney is focusing its efforts on
regaining customer loyalty by offering trusted brands, award winning service
and the affordability that America's families can depend on.